Facebook’s ad-mageddon continues. The social network’s parent company Meta Platforms on Wednesday reported a 1% revenue decline in the second quarter to $28.8 billion—the first-ever quarterly drop in its 12 years as a public company—as a combination of macroeconomic issues and falling ad prices took its toll. Making matters worse, the company’s free cash flow fell by 46% to $4.6 billion. And...
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How Instagram’s TikTok Envy Finally Backfired

Last month, Kim Kardashian, Kylie Jenner and other influencers stirred up a public relations firestorm for Instagram, complaining to their hundreds of millions of followers about the app's recent attempts to mimic TikTok. Those efforts were just part of a broader internal effort to take on the Chinese short-form video app, though. The Information has learned that recent tests of changes to...
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